IAMGOLD (NYSE:IAG) Sets New 52-Week High – Should You Buy?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price reached a new 52-week high on Friday . The company traded as high as $7.09 and last traded at $6.87, with a volume of 34355816 shares traded. The stock had previously closed at $6.51.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Raymond James reissued a “market perform” rating and issued a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th. Finally, CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.23.

IAMGOLD Stock Up 4.7 %

The company has a market cap of $4.12 billion, a PE ratio of 4.97 and a beta of 1.52. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average is $6.06 and its 200-day moving average is $5.66.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). The business had revenue of $469.90 million during the quarter, compared to the consensus estimate of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. On average, analysts predict that IAMGOLD Co. will post 0.67 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently added to or reduced their stakes in the stock. Tobam bought a new position in IAMGOLD during the fourth quarter valued at $25,000. Blue Trust Inc. lifted its holdings in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after acquiring an additional 5,511 shares during the last quarter. Raab & Moskowitz Asset Management LLC bought a new stake in IAMGOLD during the fourth quarter worth approximately $56,000. Atria Wealth Solutions Inc. purchased a new stake in IAMGOLD during the fourth quarter valued at approximately $68,000. Finally, Choreo LLC bought a new stake in shares of IAMGOLD in the 4th quarter valued at approximately $88,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.